Lufthansa German Airlines and Deutsche Bank have launched
the two “Miles & More VISA” cards in India. Every Rs 100 spent on the
“Miles & More Platinum VISA” earns two award miles while every Rs 100
spent on the “Miles & More VISA Signature” card earns three award miles.
On the first card purchase, “Miles & More Platinum VISA” cardholders
receive a welcome bonus of 5,000 award miles and “Miles & More VISA
Signature” cardholders will be credited a welcome bonus of 10,000
award miles. The new card also gives customers access to over 500 VIP
airport lounges across the world. The “Priority Pass” is being offered
to “Miles & More” cardholders at a special rate of Rs 1,500.
The new card is available in Mumbai, Delhi, Bangalore, Chennai and
Kolkata, with plans to roll-out to other cities at a later date.


The State Bank of India, in partnership with VISA, has launched the
“SBI Gold International” Debit card providing cardholders with money
transfer service, VISA “Bill Pay” and “Verified by VISA”. In addition,
the card holders can collect loyalty points, security limits on
purchase protection, cash withdrawal without any service charges at
13 bank’s ATMs, and discounts at certain retailer locations. ATM cash
withdrawals are limited to $ 1,000 for international transactions and Rs
50,000 for domestic transactions. At the point-of-sale, transactions are
limited to $ 4,000 for international transactions and Rs 200,000 for
domestic transactions.


The State Bank of Travancore has introduced a program to its debit card
customers that will offer cash-back from the dates of August 1st, 2007 to
October 31, 2007. The program will offer those who spend over 501 Rs
cash-back of 5% and those who spend 501 Rs more than 15 times,
before the October deadline 20% of the bonus cash-back. Reward funds
will be posted to the customers’ account 4-6 weeks following the deadline.
SBT has a network of over 670 branches throughout India 552 of which
are in the State of Kerala.


Corporation Bank has introduced SMS “Pay-by-Mobile-Service” in India, a
country with an increasing mobile market. The Indian mobile market is
currently at 185 million, growing at a rate of 7 million per month, and
projected to be the 3rd largest market in the world by 2010 at 300 million
users. Any of the banks’ customers who are issued a ATM card
or a Corp Convenience Debit card can register for the service, offered
PayMate, at one of the institution’s ATMs. Upon registration, the user
is issued a
4-digit PIN though an SMS on the registered mobile phone to authenticate
future transactions. This allows the customer to shop online and over
the phone from
over 3,000 merchants with secure verification through the fixed mobile
16-digit private encryption key storage, alpha code, 4-digit PIN and
confirmatory SMS.

NBK & MTC Offer Free SMS

ICICI Bank has launched an EMI Card, offering consumers the ability to
pay 0% interest on card balances, according to the Economic Times. The
balances are paid by the consumer in equated, monthly installments and
allows for the purchase of any household item. EMI is also being offered
to ICICI Bank’s co-branded card customers. ICICI bank has over
8 million card in circulation and projects a 25% growth.

CMB Inks With Happigo For Installment Payment

Targeting the non-resident Indian (NRI) community in United Arab Emirates,
ABN AMRO Bank has launched a MasterCard credit card designed to offer
convenience to the expatriate lifestyle. Based on research regarding the
million NRIs in the UAE, ABN AMRO has designed the card to provide
advantages including free monthly money-remittances, life insurance that
protection for the cardholder’s family, and India-specific redeemable
including free domestic flights on Kingfisher Airlines, rent-free mobile
cards and dining discounts at outlets in India. ABN AMRO is an
bank with assets of EUR 1,054.60 billion and has over 4,500 branches in 53
countries. The bank has had a presence in the UAE since 1973 and a staff of
1,500, with 107,000 employees worldwide. MasterCard Worldwide processes
16 billion transactions annually and serves consumers and businesses in
than 210 countries and territories.

Orlandi Valuta & Vigo Implement Remittance

Diebold Inc will be expanding manufacturing, services support, software
development and sales and marketing activities. This is marked by the
recent introduction of the company’s new security solutions including the
“Diebold 450” compact ATM, ergonomics, branch transformation, check
truncation, check imaging and end-to-end payment solutions. This
expansion of operations also includes Diebold’s 24-hour customer support
center to service the India region. The company employs over 15,000
and is represented in 90 countries. Diebold reported a revenue of $2.9
billion in 2006.

HSBC ATM Cards To Operate On China Unionpay

Gemalto has implemented smartcard technology with Financial Information
Network & Operations Ltd (FINO) enabling microbanking to be authorized
with the use of biometric authentication. This development is aimed toward
the rural population in India with the ability to store transaction
records on the
smartcard, including 15 different types of applications that facilitate
services such as deposit remittances, savings, loans, insurance and
FINO provides core banking technology solutions for low-income households
of India and acts as a business correspondent of large institutions,
serving an
estimated 500 million people. Gemalto provides digital security with 2006
annual revenues of 1.7 billion euro, has operations in about 100
countries and
more than 10,000 employees.

Canadian Tire Outlets To Accept MasterCard Chip & PIN

Transunion has hired Satish Pillai as vice president of Solutions
Development to be responsible for analytics and decisioning technologies
for the marketplace for Credit Information Bureau India Limited (CIBIL).
This development is relative to the introduction of CIBIL’s credit scoring
model, a first in India. Pillai was previously a director of collection
and a manager in the small business risk management area for American
Express. Prior to that, he was beginning his career with Banco Popular
North America, then with Wachovia Bankcard Services. His education
includes a master’s in economics from the University of Florida. CIBIL
currently has more than 77 million credit-active Indian consumers.

Moneris Provides Card Processing To SBI

Moneris Solutions has announced that it will be providing
credit card processing for State Bank of India(SBI) under a
3-year agreement. The agreement stipulates that SBI will provide
POS technologies, wireless payment processing and electronic bill
payment to its business customers using the company’s transaction-
processing hardware and software. SBI claims the highest net
assets, deposits, branches and employees for commercial banks in
India. Moneris Solutions serves over 350,000 North American
merchant locations and has over 1,100 employees.

VISA Card Use Growth Doubles Global Rate In Asia

VISA International Asia Pacific has reported a 31% growth in prepaid
and debit card use in 2006 for the region, twice the rate of the global
average, according to The India Financial Express. The card sales volume
for 2006, including cash transactions, was $156 billion for the year, a
31% increase over 2005. The global growth was 17%, which was 60%
of VISA global total consumer volume and more than 67% of the number
of VISA transactions. The number of India VISA debit and prepaid cards
was more than 33.9 million.

LIC Prospects Credit Card Partners

Life Insurance Co(LIC) of India is considering a small group of banks as
partners for its credit card. Also, to ensure the card company will not be
a subsidiary, the bank is most likely going to sign an agreement with
Corporation Bank. From LIC’s microfinance and international businesses
department head, the company has recently appointed Hemant Bhargav to
manage the project. Of the strongest candidates for the project is ICICI
Bank with over 7.5 million cards. Other possibilities include HDFC Bank,
UTI Bank, Standard Chartered Bank and Visa. Of these, LIC is considering
which option would best expand insurance penetration and is also concerned
with interest conflicts regarding what the bank may have in the credit card